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Shandong pushing for IPOs

By Ding Qingfen (China Daily)
Updated: 2008-03-31 13:49

Initiatives on the go

For other Shandong counties, it is not enough to simply copy Yiyuan's success.

By 2007, there were only 26 IPO deals finalized in Shandong's 30 major counties, less than that of Jiangsu's Wuxi alone, which has the most IPOs.

Yin Fengting, director of the CSRC Shandong bureau, said in late 2007 that the organization will give top priority to pushing up IPO initiatives this year. And by 2011, the commission will partner with relevant institutions, providing IPO training courses to 1,000 selected companies, among which 200 qualified players will be specifically fostered, 150 could enter into application procedures and 100 could issue IPOs.

The commission's IPO drive started in early 2007 when it joined hands with Shenzhen Stock Exchange and set up the IPO cultivating center, through which a database covering updated statistics of 140 potential local companies was created. About 500 corporate representatives and government officials have gone through training courses.

The commission also appointed a team that visited 120 companies 180 times in Shandong's 60 counties last year, providing on-the-spot services and guidance.

Encouraged by the provincial government, 11 of the 17 cities in Shandong, including Yantai, Zibo, Dezhou and Rizhao, have launched IPO-related preferential policies and detailed five-year plans for IPO deals.

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